A large department store has collected the following monthly data on lost sales revenue due to theft and the number of security guard hours on duty:
Lost Sales Revenue
in Thousands Total Guard Hours
1.0 600
1.4 630
1.9 1000
2.0 1200
1.8 950
2.1 1300
2.3 1350
Determine the least squares regression equation.
least squares equation: Y = .0014X +.3780
least squares equation: Y = .0014X + .955
least squares equation: Y = .0014 X + .9121
least squares equation: Y = .3780X+ .0014